Citizens Bank - Baltimore, MD

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: March 20, 1842
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: 380a876b

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (Baltimore correspondence, 1842-03-20) describes a slight run caused by groundless rumors; the bank paid out specie and remained open. OCR corrected minor punctuation in bank name (Citizens' Bank).

Events (1)

1. March 20, 1842 Run

Cause: Rumor Or Misinformation
Cause Details: Groundless rumors circulated causing a slight panic among depositors; rumors described as 'groundless' and 'probably ... by the envious.'
Measures: Paid out specie to reassure depositors (displayed/paid specie to calm the crowd).
Newspaper Excerpt: A very slight run caused by some groundless rumors, put into circulation probably by the envious, was experienced yesterday by the Citizen's bank. She came out with flying colors, and before ten o'clock frightened those who had become timid, by poking specie at them, more even than they wanted. The excitement was soon allayed
Source: newspapers

Newspaper Articles (1)

1. March 21, 1842 The New York Herald New York, NY

Article from The New York Herald, March 21, 1842

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Article Text

Baltimore. Correspondence of the Herald.] BALTIMORE, March 20, 1842. Bordering on Starvation-Depreciation of Virginia Bank Notes- The Citizens' Bank, &°C MR. EDITOR:A report has reached this city, for the entire truth of which, I would not hold myself responsible, that the operatives who were engaged on the Chesapeake and Ohio Canal, in the vicinity of Cumberland, Allegany county, have been so depressed, not being able to pass the canal scrip with which they had been paid off, that starvation was a tually staring them in the face, and that they had been forced to the alternative of killing their cart horses and eating them. This is rather a gloomy picture, and many have been somewhat exaggerated; but that great distress has been experienced in that region, is without question. Yesterday, after business fairly commenced, Virginia Bank notes fell two per cent on previous qnotations. Exchange yesterday on Richmond, may be quoted at 8 per cent discount, and tending rather to get worse; New York, par a t premium; Philadelphia, 24 a 3 discount, and unsettled; Treasury notes, 21 disconnt; Specie, par. A very slight run caused by some groundless rumors, put into circulation probably by the envious, was experienced yesterday by the Citizen's bank. She came out with flying colors, and before ten o'clock frightened those who had become timid, by poking specie at them, more even than they wanted. The excitement was soon allayed and thus the little Citizens has come out with a "feather in her cip." I am not an apolegist for any bank or corporation, but justice should be rendered when justace requires it. Some one or two other failures took place yester. day, but it is presumed that time, as with those previously reported, will bring matters all right. The houses gotinto what is termed tight place, and it is thought only require a little rest when they will squeeze out. Phe bankrupts yesterday were Jacob Houck of panacea memory, and Lloyd D. Onion of Harford Co. The weather this morning is delightful. Mother nature's songeters are swelling their anthems in the country, making melody sweet as the music of angelie harps. Yours, RODERICK.